The ASSEMBLY of the Republic (AR) yesterday approved, definitively, the amendment of number 13 of article 9 of the code of Value Added Tax (VAT) on sugar, oil and soaps, authorizing the Government to suspend it in the next few years. three years.
The measure, which reached consensus from the three parliamentary benches, namely Frelimo, Renamo and MDM, will also affect the acquisition and import of raw materials, intermediate products, parts, equipment and components, with a view to minimizing production costs.
The suspension, approved yesterday by the Parliament, will have the direct consequence of purging the tax in the entire marketing chain of these essential goods for the population, with a significant impact on the consumer price, which will alleviate the lives of citizens.
The measure will have a negative impact on the revenue component in the period from 2021 to 2023, in an amount estimated at 3.260 million meticais, corresponding to an annual loss of 1.087 million meticais, but which is justified because it is a necessary intervention to alleviate the citizen in purchasing these products.
However, just yesterday, Parliament generally approved the draft law on Credit Institutions and Financial Companies presented by the Executive, which aims to remedy constraints resulting from the intervention of the Bank of Mozambique, which had only the reorganization and liquidation regime.
In view of this situation, it was necessary to institute a resolution regime, with adequate instruments and legal mechanisms to recover or liquidate credit institutions and financial companies in difficulty or risk of insolvency in an orderly manner, in order to ensure the stability of the financial system.
The law will also safeguard the interests of taxpayers and the public purse, protect depositors and consumers, in addition to ensuring the continuity of the provision of essential financial services for the economy.
